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CNHTC acquiring 34% of UQM stock; forming new JV for electric propulsion systems in China

Green Car Congress

UQM Technologies has entered into a definitive stock purchase agreement with China National Heavy Duty Truck Group Co., UQM and CNHTC plan to create a joint venture to manufacture and sell electric propulsion systems for commercial vehicles and other vehicles in China. as US legal advisor to UQM.

China 150
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Tesla’s Tom Zhu takes over North America sales, service & deliveries

Teslarati

Tesla’s global vice president and CEO of the Greater China region, Tom Zhu, took over responsibilities for sales, service, and deliveries in North America, Electrek reported , citing sources familiar with the matter. In November, shipments from Tesla China topped 100,000 vehicles. but was still the chairman of the company.

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This cheap electric half-car/half-truck looks like a botched Alibaba El Camino

Baua Electric

Remember that time someone in China sent me a free panda car ? You don’t even have to be a man of expensive tastes to own one, as it turns out they’re listed for sale at just $1,300! The last time I bought an electric mini-truck from China, it ended up costing over 4x the list price to actually land it in my driveway in the US.

Cheap 52
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General Motors And Tengzhong Sign Definitive Agreement For Sale Of HUMMER

Green Car Congress

Credit Suisse is acting as exclusive financial advisor and Shearman & Sterling is acting as international legal counsel to Tengzhong on this transaction. Tengzhong is one of China’s major privately owned engineering companies. Citi is acting as financial advisor to GM.

Hummer 210
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Vietnam’s VinFast to set up EV battery plant in India -sources – ET Auto

Baua Electric

VinFast, which competes with carmakers such as Tesla and China’s BYD, declined to comment. Reuters reported in September VinFast had begun hiring for sales, legal and back office jobs in India, seeking recruits who “dare to think, dare to do, and dare to face difficulties.”

India 40
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Tesla widens its legal action against Rivian over alleged theft of battery secrets

Teslarati

is widening its legal action against fellow electric vehicle maker Rivian Automotive Inc., Battery tech is among Tesla’s most closely-held innovations, which makes the company’s new legal action quite understandable. .” Tesla is particularly secretive about its batteries.

Legal 145
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Proposed Changes to Federal EV Tax Credit – Part 4: Chinese-Assembled Vehicles Will Not Be Eligible for Tax Credit

EV Adoption

Effective January 1, 2022, electric vehicles with final assembly* (see definition at the end) in China would no longer qualify for IRC 30D (federal EV tax credit). And while Tesla has emerged as the largest seller of EVs in China, a number of startups and joint ventures with western automakers are growing quickly.